Community Trust Bancorp (NASDAQ:CTBI) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Community Trust Bancorp, Inc. (NASDAQ:CTBI)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $51.01 and traded as high as $51.32. Community Trust Bancorp shares last traded at $51.11, with a volume of 73,972 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CTBI shares. Raymond James upgraded shares of Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $64.00 price objective on shares of Community Trust Bancorp in a research note on Friday, November 8th.

Community Trust Bancorp Stock Performance

The stock has a market capitalization of $922.94 million, a P/E ratio of 11.62 and a beta of 0.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $56.48 and a two-hundred day moving average price of $51.01.

Community Trust Bancorp (NASDAQ:CTBI) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. The business had revenue of $95.38 million for the quarter, compared to analyst estimates of $62.00 million. Community Trust Bancorp had a net margin of 21.64% and a return on equity of 10.93%. Equities analysts expect that Community Trust Bancorp, Inc. will post 4.56 earnings per share for the current year.

Community Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Friday, December 13th. Community Trust Bancorp’s payout ratio is 42.73%.

Institutional Trading of Community Trust Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Thoroughbred Financial Services LLC bought a new position in shares of Community Trust Bancorp in the second quarter worth approximately $2,891,000. Thrivent Financial for Lutherans raised its position in shares of Community Trust Bancorp by 23.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 80,948 shares of the financial services provider’s stock valued at $4,020,000 after buying an additional 15,619 shares in the last quarter. Barclays PLC lifted its holdings in shares of Community Trust Bancorp by 45.8% during the 3rd quarter. Barclays PLC now owns 50,376 shares of the financial services provider’s stock worth $2,502,000 after acquiring an additional 15,832 shares during the last quarter. Creative Planning purchased a new position in Community Trust Bancorp in the third quarter worth $498,000. Finally, Bank of Montreal Can purchased a new position in Community Trust Bancorp in the second quarter worth $764,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that engages in the provision of commercial and personal banking, and trust and wealth management services to small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, as well as southern West Virginia, and northeastern Tennessee.